By CCN: Year-to-date, ether (ETH), the native crypto asset of the Ethereum blockchain network, has increased by 112 percent against the U.S. dollar, recovering to $285 from $133 at the start of the year.
Jehan Chu, a co-founder and a managing partner at Kenetic Capital, believes the Ethereum blockchain network is here to stay and that in terms of utility, ETH is leading the pathway for the rest of the market.
ETHEREUM AS THE GLOBAL SUPERCOMPUTER
Since its inception in 2014, the Ethereum blockchain network has been widely considered as a global supercomputer, a decentralized protocol on which developers can deploy and operate decentralized applications (DApps) in a peer-to-peer environment.
As a sign of healthy long-term sustainability and survivability, Chu cited the rate in which the open-source developer community of ETH is working improve the existing codebase of the blockchain network.
In October 2018, Octoverse, the annual survey conducted by Github among developers in the community, ranked Ethereum’s Go client as the fifth fastest-growing open-source project in the world.
Chu cited the rate of adoption as well as the network effect ETH has with its large developer audience as the main factors that would fuel the growth of the network over the long run.
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